VANCOUVER, British Columbia, June 20, 2018 (GLOBE NEWSWIRE) -- Calyx Ventures Inc. (TSX-V:CYX) (“Calyx” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement of up to 9,285,713 units (each, a “Unit”), at a price of $0.07 per Unit, for gross proceeds of up to $650,000. Each Unit consists one common share of the Company, and one-half-of-one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to acquire one additional common share of the Company at a price of $0.15 per share for a period of twelve months, subject to accelerated expiry in the event the closing price of the Company's common shares is $0.20 or higher for ten consecutive trading days.
All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period. Completion of the private placement remains subject to the approval of the TSX Venture Exchange.
The funds will be used to pursue strategic initiatives and for general working capital purposes.
Calyx operates a software development business which produces custom software for enterprises and innovative, well-financed startups. Cannigistics Agri-Solutions Corp., a software development business that has created a software platform originally designed for advanced indoor agriculture, has now evolved to serve a wider range of industries and Canada Blockchain Holdings Corp., a company operating in the blockchain technology and cryptocurrency sector. Calyx also owns a portfolio of proprietary intellectual property with applications in crop enhancement, as well as messaging software assets.
For further information about Calyx, please visit www.calyxbio.com or contact:
President and Chief Executive Officer
Calyx Ventures Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.
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